Federal Reserve Chairman Kevin Walsh's remarks lead to a pullback in Bitcoin, with spot buying supporting market structure

Bitfinex analysis points out that although Federal Reserve Chairman Kevin Walsh's hawkish remarks caused Bitcoin to fall from above $81000, spot buying supported the market structure. Last week, the net inflow of US spot Bitcoin ETFs was nearly $1 billion, and the net inflow of Ethereum investment products was $815.7 million for 10 consecutive days. The PCE inflation in the United States is 3.7%, core inflation is 3.3%, and private demand grew at an annualized rate of 4.2% in the second quarter. The deficit for the first 10 months of this fiscal year reached $1.8 trillion. Federal Reserve Chairman Kevin Walsh confirmed that the 2% inflation target is a hard constraint, and the market has raised the probability of a rate hike in September to 57%.